Boston, MA 03/12/2014 (wallstreetpr) – Illumina, Inc. (NASDAQ:ILMN) provides a wide range of genetic analysis products. It is mostly in the development and manufacturing of life science tools as well as integrated systems that are used in the analysis of genetic function and variation. Thus, its range of services and products has wide application in genotyping, sequencing, molecular diagnostics and gene expression.
In a way, the company also develops life science systems that seek to cut the cost in the various genetic analytics. One such device tool is its gene sequencing device called HiSeq X Ten.
The device not only helps researcher to expand their genetic analytics activities, but also makes it possible to carry out entire genome in humans with a much reduced cost at less than $1,000.
Buyers Keep Coming
WuXi PharmaTech (Cayman) Inc. (ADR) (NYSE:WX) is the latest addition to the list of clients flocking to take advantage of the new gene sequencing technology developed by Illumina, Inc. (NASDAQ:ILMN). WuXi PharmaTech is an outsourcing biotech company that is also involved in medical device research and development. It is based in China with operations in the country and the U.S.
The new gene sequencing platform goes for $10 million and there have been many clients seeking to acquire it given that it allows for wholesome human genome for less than $1,000 which is quite unheard off with the currently available technologies.
WuXi PharmaTech hopes that it will use HiSeq X Ten to enable it expand its genomic services and conduct populationwide gene sequencing across Asia Pacific where most of its operations are located.
The string of customers who have been coming for the high-profile gene sequencing technology, HiSeq X Ten, include Human Longevity Inc. and HLI which bought two devices through a startup funding of $70 million.
Bright Future
Illumina, Inc. (NASDAQ:ILMN) has come up with a device that is no doubt making headlines and getting clients coming. The whole idea of being able to reduce the cost associated with human genome is just a wonderful thing. Thus, the company should be able to keep growing its revenue now that it has in its portfolio a device that needs no introduction for those who know what they want.
In the most recent quarter results issused January 28, Illumina, Inc. (NASDAQ:ILMN) reported earnings per share of 45 cents, exceeding 44 cents estimated by analysts. Revenue came in at $387 million, topping Wall Street estimation of $382.06 million. Both the EPS and revenue grew significantly compared with figures in the corresponding quarter one year ago.
